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Monday, July 26, 2010

IDSA

You can't see it here, but on a weekly chart IDSA has formed an O'Neil "high, tight flag", although the flag isn't as tight as O'Neil would like. It broke out today, the culmination of a high volume move off support. Potentially, high tight flag patterns have a target 80-100% above the breakout point, putting the target here somewhere around 28 to 30. I have to emphasize "potential", though. This could be the start of a big multi-month or year move.

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